Project


Financial literacy is the process by which investors improve their understanding of financial markets, products, concepts and risks. Through information and objective advice, they develop the skills and confidence to become more aware of financial risks and opportunities and make informed choices to improve their financial position.

India is among the world’s most efficient financial markets in terms of technology, regulation and systems. It also has one of the highest savings rate in the world - our gross household savings rate, was 33.3% at the end of March 2012, and may rise to around 38-39% of GDP by the end of 12th Five Year Plan if economic growth returns to 8% level.

Not only must we take greater charge of our current financial well-being, but we need to forecast future financial needs, navigate increasingly complex financial markets and manage risk, both during and after our working years. At the same time, financial products, including loans and products used for saving and investing, have become more numerous and more complicated, requiring individuals to make choices on an array of options.

We need to have a well chalked out plan to spread financial literacy and implement it across the nation addressing all strata of society. We need to coordinate with all agencies like the government, financial institutions and educational institutes to make it happen.

Already there are efforts at financial literacy being taken up by banks, financial institutes, and government agencies. If all these efforts can be coordinated and educational institutes can be looped in to launch a national financial literacy mission we can really make a difference.

With this in mind the BSE Institute Limited and GIZ have collaborated to design and develop a toolkit that can be used to spread financial education among all strata of society, with focus on the rural Indian population and all those who are still not availing the varied products and services in banking, financial and insurance sector.

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